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Changed my mind on DCI.  This is not to say I wont get back in if the price falls more.

I am getting out more or less flat. Announcement that they are going to use Pearl Island cash for working capital and that:

“ The Board will re-evaluate the Company’s distribution potential when there is more clarity on the pace of additional disposals.”

Makes me think selling these assets may take a while longer than I initially expected… I’m also more concerned about the price… I always was a bit concerned about the quality of this one…

Portfolio is up 4% for 3 months ending March FTSE all share up 3%.

Bit disappointing – a couple of weeks before the end of March I was up over 10% but I have been hit by negative moves in Symphony International, Produce Investments and Tejoori.

Produce will come back, I have been trading round my position in TJI  – selling shares at 40c buying back at 33…

I did a little trade on EUR / CZK betting the peg would be eased.  It was but quite quickly after I did the trade so I didn’t get to write it up.  I like fixed exchange rate peg trades – designed right if I win then I win lots – and if I lose I don’t lose much.  It didn’t make me much at all though… I didnt make much though – I thought the move would be much bigger – I am letting it run now though…

Really struggling to come up with good ideas at the moment – looking in to overseas investments but I haven’t found anything which really makes me want to put my money in.

I really need to SIHL, TJI are nearly done – 15% of the portfolio heading towards cash….

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